Business Networking

Recently, the world’s economy has gone through recession, in US alone their stock market drastically dropped resulting in changes of their income, some companies lowered their employee’s salary yielding a   slow rate of production thus increases the demand in stock market and eventually price for daily necessities goes up, apart from low budget  for salary comes the worse scenario , countries from different continents suddenly increase their unemployment rate due to several bankruptcy of different small and big businesses globally.

Slowly, the world’s economy is starting to recover from the recession, even a high unemployment rate is still a problem  in most countries but thankfully unemployed citizens have found their ways to earn despite the negative economics’ status, Business Networking   was an answer to financially -struggled citizens

Business Networking , is a combination of social and economic type of business  activity that draws  entrepreneurs  to create and act  upon a certain business opportunity, by the word itself, networking means an interaction, for Business Networking  means that a group  of people are  organized, they met, participated and discussed  in how to grow their business, after which this group of people refers  other people to get involved on the same existing business activity, in short Business Networking is snowball effect.

Why Business Networking have become prominent these days?  We are aware that the most traditional method or business promotion is through advertisement like television ad, online ads and etc, this method is effective but costs a lot of money, in Business Networking however is an alternative means of business promotion at much lesser cost plus Business Networking involves personal interaction with customers, wither face to face networking or online.

Business Networking can grow from local to global because of the power internet, the pattern for a growing business is to start from simple meeting, face to face networking with the customers and eventually the business may utilize some social networks in promoting the business and its product, recruit more people to join the business.

Recession is definitely not just a threat but a huge barrier for economic growth and development.| A domino effect will happen, once a recession occurs, investors will be hesitant, small and big businesses slow down their production and there will be increase in demand for local goods in the market.The supplies price hikes up and consumers can no longer afford to buy the necessary goods.

In order for a business to grow is to take a risk, definitely it is about risking, I think that for all aspiring to be a successful entrepreneurs one must has to possess the drive to take risks, for people who wants to get involve with  Business Networking must also possess the networking skills and must have a maintaining relationships with their colleagues and prospect customers. It all boils down with the right attitude, innovative mind in times of adversities helps in building a successful business and creativity is a plus factor too, Business Networking,  deals with different people, though mostly business inclined but with different perspectives,  you’ve got to be remembered that is one key in Business Networking. Creativity works for one to be remembered, one can use brochures or improve their public relations ability, if a person works hard enough to possess a good public relations skills their profile will be established and they will be trusted, thus referrals will be effective, Business Networking  is all about people, it is  people centred type of business and when dealing people trust must be the main tool in getting their yes for a product offered.

There are a lot of chief  points to remember in Business Networking, first an entrepreneur must have an accurate goal, Business Networking is all about expanding members and promoting products or services thus it is important to set a goal or quota for each member of the group and how many referrals they have to get for a day, weeks and months. Communication skills does not have to be excellent at all, charismatic personality aces this kind of method but not everybody is gifted enough to possess this kind of personality, being genuine is the most significant trait one must have, customers can smell fake doubts of fear thus, it is important to be authentic with word uttered so that they will trust you. In order for trust to be gained, one should be knowledgeable enough Business Networking do’s and dont’s, how and why leave a lasting good impression.

Once you think you nailed the first meeting, consistent follow up will do the trick, I think that there is no such thing as love at first sight and so does in business world.One can gain trust but not enough to bring  successful marketing, a note or phone call for each person met, if there are any negotiations made fulfil them at the promised time. Not all Business Networking  ways are face to face, in these modern day, once can do it via the internet, when using internet, is way more convenient than face to face contact, one can use different  in making a follow up like electronic mail address, through chat or add them on your friend’s list through your social networking account.

Business Networking can be done through different kind of ways, but the two most common are face to face and online networking, many individuals prefer face to face contact because it  bring forth higher possibility of higher quality relationships with prospect customers, face to face allows to assess the customer as well of their interests and customers prefer to entrust their money to those people they know personally, face to face is facilitated with referral system . Online networking, in the other hand, provides a bigger rate of finding new and interested members for the business, social networking shares the big help for this, social networking sites like Facebook,  Twitter, Multiply are some of the examples.It is quality versus quantity, face to face contact still is considered to be the most effective means of Business Networking  online Business Networking is a tool to increase business contacts and for promotion.

Business Networking  has a lot of benefits, for newly start business this is the most affordable way in promoting the products and services, through networking, knowledge about the product and skills will be greatly improved. The main purpose of Business Networking  is to promote the business’s reputation, Business Networking will expand the member and may contribute potential markets with newly found members, this will as well. By Business Networking means to gather and meet, it not just about expanding the group and selling but this as well serves as means of developing and sharing innovative ideas for the business,  discussing positive and negative about a certain product, method and strategies and updating customer service and support to customers.